Storebrand Bank ASA: Annual Report 2019
The bank group achieved a profit before tax of NOK 272 million for 2019, compared with NOK 199 million in 2018 for continued operations. The principal reason for the improvement in profit from 2018 was increased net interest income of NOK 58 million compared with 2018 due to increased deposit margins. Other operating income increased by NOK 15 million in 2019, compared with the previous year as a result of increased profits on financial instruments at fair value. Operating expenses ended at NOK 7 million higher in 2019 than in 2018 through increased depreciation and write-downs on